SME Times is powered by   
Search News
Just in:   • Reduce value added tax on jet fuel: industry body  • US economy grows by 2.6 percent in Q4 of 2014  • Telecom industry concerned over service tax rate under GST: COAI  • Adani Enterprises demerges port, power and transmission businesses  • Coal India's 10 pc megasale earns govt Rs. 22,745 cr 
Last updated: 27 Sep, 2014  

Tax generic THMB Hopeful of 19 pc tax revenue growth in 2013-14: Shome

Tax..9.jpg
   Top Stories
» US strengthens trade engagement with India
» Fiscal deficit exceeds budget estimates in 9 months
» Natarajan's claim on Vedanta sparks political debate
» India to become a $4-5 tn economy in 10-12 yrs: Sinha
» Economic growth in 2013-14 revised to 6.9 pc by base year change
SME Times News Bureau | 11 Mar, 2013
On the back of higher economic growth and the additional revenue measures of the budget, the central government hopes tax collections will increase 19 percent in 2013-14, the finance minister's adviser Parthasarathi Shome said Saturday.

"This year (2012-13) we are likely to have 17 percent growth in our tax revenue. And we are hopeful of achieving a 19 percent tax revenue growth in the next fiscal," Shome said while speaking at a seminar on 'Understanding Union Budget 2013-14', organised by St. Xavier's College and MCC Chamber of Commerce and Industry in Kolkata.

"Next year, with the higher rate of growth of economy, we can certainly expect 18 percent tax revenue growth. We have also taken some additional revenue measures or ARMs (in the budget). And with these ARMs, if we add to the 18 percent, you come to about 19 percent growth," he explained.

Describing the budget presented by union Finance Minister P. Chidambaram for 2013-14 as a "very balanced" one, he said the budget had taken measures to push the slowing growth rate and given attention to various interests.

"The government has taken the right measures in the budget. It has kept in place and given attention to various interests and tries to give some succor to those needed," he stated.

Shome said the finance minister in the budget had given special impetus to manufacturing and construction sectors.

"Also the markets for securities and mutual funds have really incentivised," he added.

Revenue receipts were estimated at Rs.9,35,685 crore in budget estimates for 2012-13, which comprised net tax revenue of Rs.7,71,071 crore and non-tax revenue of Rs.1,64,614 crore.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
63.85
62.80
UK Pound
99.90
97.65
Euro
79.15
77.25
Japanese Yen 54.05 52.80
As on 01 Feb, 2015
  Daily Poll
Do you think that Planning Commission's new avatar 'NITI Ayog' will perform better?
 Yes
 No
 Can't say
  Commented Stories
» SME policy: What China is doing and we're not(17)
» Course on foreign trade to help SME exporters(7)
» Starting an import export business: Basic guide for beginners(7)
» Obama's India visit ends; Modi bids farewell(1)
» No collateral for loans up to Rs 5 lakh to SMEs: RBI(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter